Cross-border payment platform, backed by Elevation Capital and Susquehanna Asia Venture Capital, has secured an international payment license in Canada, becoming the first Indian cross-border payments platform to be licensed overseas.
The license, granted under Canada’s Retail Payment Activities Act (RPAA), and overseen by Bank of Canada, enables Skydo to support local collections and payouts in Canada and expand its offerings beyond international collections into a broader suite of cross-border payment service.
With licenses in India and Canada, along with its GIFT City approval, Skydo is positioned to serve the India-Canada corridor, across trade, education, tourism and business.
“With Canada, we are expanding beyond collections to enable seamless two-way payment flows and support growing India-Canada commerce”, said Srivatsan Sridhar, Co-Founder and CEO of Skydo.
Skydo is a cross-border payments platform for businesses that sell, buy and hire across the world, helping businesses manage internationally, with transparency across payment. The Canadian licence creates a foundation for Skydo’s future growth across North America, including the United States.
